Toronto’s real estate boom drives up Canadian home prices
Posted by news | Filed under All News Stories, Business, GTA, Toronto
The Canadian Real Estate Association says Toronto’s red hot real estate market drove the home price index up 5.2 percent in May compared with the same period last year. The association says gains in Toronto amounted to 7.93 percent, outpacing all other regions measured by the index. The report comes a day after Finance Minister Jim Flaherty moved to tighten mortgage lending rules for the 4th time in as many years, citing Toronto’s runaway condominium market as a concern.
